Business & Investments

Ghitha Holding PJSC Announces Strategic Expansion with Acquisition of MNG Airlines Shareholding

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Ghitha Holding PJSC Announces Strategic Expansion with Acquisition of MNG Airlines Shareholding

  • Acquires 44% stake in MNG Airlines for USD 211.20 million.
  • The acquisition strengthens Ghitha’s logistics and aviation, cementing its leadershipin the regional food trading sector.

Abu Dhabi, UAE – February05, 2024:Ghitha HoldingPJSC (ADX:Ghitha), a subsidiary of Abu Dhabi-based conglomerate International Holding Company (ADX: IHC), announced a significant milestone in its growth strategy by expanding within thelogistics andaviation sector. Through its wholly-owned indirect subsidiary, GhithaAeroinvest Holding RSC LTD, the company entered into a Share Purchase Agreement (SPA) dated as of February 1, 2024, to acquire a 44% stake in MNG HavayollariveTasimacilik A.S. (MNG Airlines), a leading commercial cargo company headquartered in Turkey.

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Business & Investments

IHC Announces Stellar Preliminary Financial Results for 2023: Record Revenue and EPS Growth

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IHC Announces Stellar Preliminary Financial Results for 2023: Record Revenue and EPS Growth

  • EPS of AED 12.36, indicating robust financial health and investor confidence.
  • Preliminary Net profit remains strong at AED 32,748 million.
  • Revenue Soars to AED 60,089 million with strategic acquisitions and performance driving a preliminary 18% YoY increase.

Abu Dhabi, 5th February 2024:ABU DHABI, UAE – International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, has announced its Unaudited Preliminary Financial Results for the year ended December 31, 2023, showcasing a remarkable year of financial growth and strategic achievements.

The Group’s Preliminary Revenue soared to AED 60,089 million, marking an 18% increase from the previous year’s AED 50,946 million. This significant revenue growth is attributed to the company’s strategic acquisitions and the enhanced financial performance of its existing businesses, aligning with the management’s strategic vision for the Group.

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Sports & Recreations

Presight Partners with UAE Team ADQ to Support Women’s Professional Cycling

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Presight Partners with UAE Team ADQ to Support Women’s Professional Cycling, Team Performance and Female Empowerment

Abu Dhabi, UAE, February 5th, 2024: Presight, the region’s leader in big data analytics powered by Generative AI, announced its strategic partnership with UAE Team ADQ – the UAE’s only professional women’s cycling team – at a signing ceremony on 5th February in Abu Dhabi.

The ceremony saw Maria Camila Garcia, CEO of UAE Team ADQ, and Thomas Pramotedham, CEO of Presight, enter into a collaboration that marks a pivotal moment for both entities who join forces to further propel cycling excellence and participation in the UAE and beyond.

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Business & Investments

Khalifa Fund Hosts a Discussion Panel on Navigating Economic Growth and Innovation in the Industrial Sector

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Khalifa Fund Hosts a Discussion Panel on Navigating Economic Growth and Innovation in the Industrial Sector

5th Feb 2024, Abu Dhabi, United Arab Emirates: Khalifa Fund for Enterprise Development announced its 11th Abu Dhabi SME Tribe Meetup; a community experience that brings together the business community in Abu Dhabi through multiple meetings throughout the year. Led by pioneering Emirati entrepreneurs in the industrial sector, this edition of the entrepreneurial gathering will feature a panel discussion titled ‘Emirati Industrial Pioneers: Navigating Economic Growth and Innovation’ on February 7, 2024. The meetup will also feature a distinguished expert speaker from the Emirates Development Bank with insights into the financing programs it offers, and how it supports startups and early-stage Industrial businesses through its SME financing & Industrial Incubation Programs.

HE Alia Abdulla Al Mazouei, CEO of Khalifa Fund, stated: “While selecting the SME Tribe meetups themes, Khalifa Fund is keen to cover SME’s development in all the priority sectors. The industrial sector is one of the most important components of the Emirati economy in the UAE and a significant contributor to the UAE GDP. Fostering entrepreneurship in the industrial domain not only contributes to economic prosperity but also plays a vital role in shaping the future landscape of innovation and sustainable development in the UAE.

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Business & Investments

HIMA Group acquires Origo Solutions

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HIMA Group acquires Origo Solutions

Dubai, 5 February 2024
Expansion of Process Safety in Scandinavia Digital solutions for renewable energies

The HIMA Group, leading provider of safety-related automation solutions and headquartered in Germany, has acquired the Norwegian technology company Origo Solutions. The agreement was signed on 8 January and is effective as of 31 January.

With this transaction, both companies intend to continue their growth strategies and expand their range of solutions for the process industry and renewable energies. Main focus here is the digitalisation of functional safety, which HIMA is pushing under the motto “Safety goes digital”.

“The acquisition of Origo Solutions is an important step in HIMA’s global expansion and also opens up new business opportunities for both Origo Solutions and HIMA”, said Steffen Philipp, Shareholder HIMA Group.

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